Hewlett Packard Enterprise
HPEQ4 2024Derived14% AI
AI Revenue %
14%
AI Fair Value
$4.3B
AI Revenue (Q)
$1.2B
Total Revenue (Q)
$8.5B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
Q4 FY2024 (ended October 31, 2024). The 10-K describes Server segment as including 'artificial intelligence, data analytics, and transaction processing workloads.' FY2024 full-year total revenue from 10-K filing structure. Nine-month revenue was $21,669M; Q4 implied revenue = full year minus 9 months. The FY2024 10-K mentions launching Private Cloud AI and co-development with NVIDIA. AI server demand continued accelerating. The massive inventory buildup ($7,810M at Oct 31, 2024) and accounts payable increase ($11,064M from $7,136M) signal high-volume AI server production. Conservative estimate: AI server + Private Cloud AI revenue ~$1,050M for Q4. Math: $1,050M / ~$7,500M estimated Q4 revenue = 14.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Server segment offerings consist of general-purpose servers for multi-workload computing and workload-optimized servers... artificial intelligence, data analytics, and transaction processing workloads
10-K FY2024, Item 1 Business Description (Server segment)
In fiscal 2024, we launched a new offering, Private Cloud AI, that captures the emerging enterprise model fine-tuning, retrieval augmented generation and inference markets for AI solutions. Private Cloud AI is fully integrated, standardized offer that has been co-developed with AI market leader Nvidia
10-K FY2024, Item 1 Business Description (Hybrid Cloud segment)
Inventory 7,810
10-K FY2024, Consolidated Balance Sheet (October 31, 2024)
AI Products Identified (Ring 1)
HPE Cray EX/XDHPE ProLiant with NVIDIA GPUsHPE Private Cloud AIHPE GreenLake for LLMs
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Server segment (non-AI servers, HPC, NonStop)Hybrid Cloud (non-AI)Intelligent Edge (Aruba)Financial Services
Confidence Tier
DerivedCalculated from reported segments primarily serving AI